ST. PETERSBURG, FL, September 28, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Isle of St. Croix, a 10-unit apartment property located in St. Petersburg, FL, according to Christopher W. Travis, Regional Manager of the firm’s Tampa office. The asset sold for $915,000.
Ned Roberts, Sebastian Harris, Jason Hague and Adam Podbelski, investment specialists with the RPH Multifamily Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ned Roberts, Sebastian Harris, Jason Hague and Adam Podbelski, also represented the buyer, a limited liability company.
“We began marketing this property following the COVID-19 shutdown, we immediately began seeing interest from buyers throughout the state and country. After receiving a volume of offers, an investment group made up of local and out of state partners was selected for their list price offer and extremely aggressive terms,” said Harris
“We were pleased to get this deal closed just 51 days after it went under contract,” said Roberts. “It was the latest of several properties we have sold on behalf of our client.”
Isle of St. Croix is located at 500 75th Ave N in St. Petersburg, FL. The property consists of ten large one bedroom one bath apartments which were all renovated at the time of sale. The property is concrete block and was constructed in 1973.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.